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Legislation


2000 Regular Session

HOUSE BILL 659

File Code: Taxes - Income Crossfiled with: SENATE BILL 772
Sponsored By:
Delegate Mandel (Maryland Gives Task Force on Charitable Giving)
Entitled:
Income Tax Credit - Endowment Gifts

Synopsis:

Allowing a State income tax credit for individuals in an amount equal to 10% of the present value of the aggregate amount of an endowment gift, as defined; allowing a State income tax credit to corporations in an amount equal to 10% of the amount of an endowment gift; limiting the credit to the State income tax otherwise imposed for the taxable year; defining terms; and applying the Act to tax years after 1999.

History by Legislative Date

House Action
2/10
First Reading Ways and Means
2/23
Hearing 3/8 at 1:00 p.m.
3/25
Unfavorable Report by Ways and Means
Senate Action
No Action
Sponsored by:
Delegate Adrienne A. Mandel, District 19
MD Gives! - T.F.on Charitable Giving
Bill indexed under the following Subjects:
GIFTS
INCOME TAX
NONPROFIT ORGANIZATIONS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-718 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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